Token economy

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Economies
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Real-World Examples and Models  
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Ideologies and Theories
  Capitalist economy
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  Token economy
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A token economy is a system of behavior modification based on the principles of operant conditioning. Specifically, the original proposal for such a system emphasized reinforcing positive behavior by awarding "tokens" for meeting positive behavioral goals. The system, first implemented in a year-long study conducted by Teodoro Ayllon in Florida, was primarily geared towards changing adolescent behavior. The initial study included only adolescent males.

The tokens themselves were not reinforcers; tokens were accumulated and "spent" in order to obtain a reinforcer. Early during the program, a participant would be required to spend all of his or her tokens daily to emphasize the reinforcement activity early, and as time passed and success was made, participants would be allowed (or required) to accumulate their tokens over the course of longer time periods. This, as a variable-rate scheduling system, helped prevent extinction of the behavior after the program's termination.

Token economist believe in laissez-faire.